Report: Porsche family boosts influence in Porsche holding

FRANKFURT (Thomson Financial) -- The Porsche family has increased its influence in Porsche's holding company, while that of the Piech family has been reduced, Der Spiegel magazine reported, citing sources.

It said the Porsche family has increased its stake in Porsche Automobil Holding to 61.9 percent from 53.7 percent, while the Piech family has reduced its stake to 38.1 percent from 46.3 percent.

A Porsche spokesman declined to comment on the changes in the two families' shareholdings.

Porsche Automobil Holding owns a nearly 31 percent stake in Volkswagen AG and all the ordinary shares in Porsche.

As a result of the shareholding changes, Ferdinand Piech is stepping down from the four-man presidium of the Porsche Holding supervisory board and will instead sit on the supervisory board of Audi.